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February 14, 2011

Over $700B in "unobligated" funds sitting idle in Federal agency coffers

Apparently, Federal agencies are being swamped with so much ObamaCash™ they have no idea where to spend it, don't have any commitments for it, and its just piling up like so much dirty laundry in a hamper.

...Meanwhile, more than $700 billion gathers dust in accounts all around Washington.

That’s right. An arcane budgetary category called “unobligated funds” includes money that Congress has appropriated for agencies and programs in every corner of the federal government. When that money goes unspent, it just sits there — like an ancient wooden chest on a Caribbean island, just waiting to be pried open...

...these unobligated funds “have not yet been committed by contract or other legally binding action by the government,” OMB explains...

...Senator Tom Coburn (R., Okla.) holds the treasure map...

Obama's "stash" really existed. Who knew?


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posted by Purp at 02:54 PM

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